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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Binance To Enter Japan With A Bang, Will List More Tokens Than Any Local Exchange

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Binance Japan

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According to Japanese-based crypto media outlet Coinpost, Binance will launch in Japan fully this month and intends to list 34 tokens on its exchange. This means the platform will offer more tokens than its local competitors in Japan, with major domestic exchanges Bitbank, GMO Coin, and Coincheck listing 30, 36, and 22 tokens, respectively. 

The largest crypto exchange by trading volume intends to list its native BNB token, making this the first time it will be available in the country. Some of the other tokens expected to be listed include Axie Infinity (AXS), Solana (SOL), and Avalanche (AVAX).

A Remarkable Re-entry

News of the re-entry into Japan was announced by the CEO of Binance via a Twitter video. According to him, the platform has been making efforts to re-enter the Japanese market for a while now. He was effusive with his praises and noted that since 2017, Japan had established crypto exchange regulations, including the recent stablecoin regulations enacted in June. He also stated it was “fantastic to see Japan being a leader in the Web3 regulatory environment.”

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He further added that Binance was glad to once again partake in the Japanese market after its purchase of the Sakura Exchange BitCoin (SEBC) platform in November last year. Following the acquisition, SEBC changed its name to Binance Japan Inc. 

The purchase of the exchange was instrumental in paving the way for the re-entrance of Binance in Japan. Binance will initially offer sport trading services. However, the exchange will not render leveraged trading services since this will require a Type 1 Financial Instruments Business license, with more restrictive standards. 

Additionally, cryptocurrency users in Japan will also be offered access to Binance Earn, a specially designed program that enables participants to earn interest on their cryptocurrency deposits. The exchange will also render Japanese crypto traders an opportunity to trade on its NFT marketplace.

Binance Coin (BNB) price chart from Tradingview.com

BNB coin price sitting at $245 following exchange announcement | Source: BNBUSD on Tradingview.com

Major Regulatory Win for Binance

This recent announcement marks a major regulatory win for Binance. In the recent past, the platform has faced various regulatory challenges and was recently made to drop its license application in Germany. 

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In France, the exchange also faces regulatory investigations, with French authorities accusing Binance of being involved in offering illegal digital assets services and failing to curtail money laundering. 

Therefore, this latest announcement of a re-entry into the Japanese market heralds a major regulatory win for the embattled exchange.

Featured image from CoinDesk, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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